TVS Motor’s net profit up 33% in Q2-FY2017

Strong motorcycle sales have helped TVS Motor Company report a net profit (PAT) of Rs 177.93 crore in the quarter ended September 2016, as against Rs 132.96 crore in the same period last year, up 33.4% year-on-year (YoY).

The company’s revenue increased by 20.6% to Rs 3,726.31 crore for Q2-FY2017 as against Rs 3,089.42 crore in Q2-FY2016. The automaker’s Profit Before Tax (PBT) registered a growth of 31.1% to Rs 234.04 crores in the reported quarter as against Rs 178.46 crore in the same quarter of the previous fiscal.

The company’s overall two-wheeler sales for Q2-FY2017, including exports grew by 23.1% to 7.95 lakh units as against 6.46 lakh units sold in Q2-FY2016. Motorcycles sales grew by 30.2% to 3.32 lakh units in the second quarter of 2016-17 as against 2.55 lakh units registered in the second quarter of 2015-16. Scooter sales increased to 2.29 lakh units in Q2-FY2017 as against 2.18 lakh units in Q2-Fy2016 registering a growth of 5%.

The company exported 1.12 lakh units of two- and three-wheelers in the quarter under review as against 1.27 lakh units in the second quarter of 2015-16. Three-wheelers sales went down to 20,401 units in the quarter under review as against 32,922 units in the second quarter of 2015-16.

Half-yearly results

In the half year ended September 2016, the company’s net profit went up by 28.1% to Rs 298.64 crore as against Rs 233.04 crores registered in the half-year ended September 2015.

The total revenue grew by 16.8% to Rs 6,874.49 crore as against Rs 5,887.60 crores in the half-year ended September 2015. The Profit Before Tax (PBT) grew by 27.9% to Rs 394.86 crores as against Rs 308.81 crores recorded in the half-year ended September 2015.

The total two-wheeler sales of the company for the half-year ended September 2016 grew by 19.3% to 14.96 lakh units as against 12.54 lakh units recorded in the half-year ended September 2015.

Scooter sales grew by 11.2% in H1-FY2017 to 4.26 lakh units as against 3.83 lakh units in H1-FY2016.

Sales of motorcycle during H1-FY2017 grew by 20.6% to 6.15 lakh units as against 5.10 lakh units in H1-FY2016. Two- and three-wheeler exports of the company registered sales of 2.16 lakh units in the half-year ended September 2016 as against 2.46 lakh units in the same period last year.

Three-wheeler sales continued to go down to 37,738 units in H1-FY2017 as against 63,151 units in H1-FY2016.